Cleveland — Michael Ponting has taken his plastics knowledge from the lab to the production floor.
Ponting shared what he called "entrepreneurial ramblings" at the Polymer Initiative of Northeast Ohio (PINO) conference, Feb. 26 at Case Western Reserve University in Cleveland. Ponting earned his Ph.D. in chemical engineering from CWRU in 2010.
Using research from his time at CWRU, Ponting founded PolymerPlus, a firm that marketed microlayer plastics processing and multilayer film technology. Ponting's research was focused on nanolayered gradient refractive index (GRIN) optics and dielectric energy storage films.
The technology soon found multiple uses, including specialty film for lenses in military night-vision goggles. By 2012, PolymerPlus was operating a plant in Valley View, Ohio.
"The process is going from ideation to making the product to selling it to making it, and then doing everything all over again," Ponting said. "The hurdles will be the same whether you're at a big company or a small company."
PolymerPlus continued to grow, and in 2020, it was acquired by Peak Nanosystems LLC, a technology firm based in Coppell, Texas. The renamed firm now employs almost 130 and operates production sites in Valley View and Macedonia, Ohio. The firm runs six extrusion lines making 22 commercial products at those sites. Ponting is the chief science officer for Peak Nanosystems.
Although technology is important, Ponting also encouraged researchers to learn the financial side of the business.
"Hire a good accountant because you need to understand basic financials," he said. "Learn how to make the doughnuts. That's something we don't really focus on on the technology side."
Hiring a good legal team also is needed to handle areas of contracts, patents and intellectual property, according to Ponting. Having a high-quality website complete with data sheets and contact information also will help a young company, he added.
When developing technology, Ponting said, "you have to deliver what you've promised." He added that being able to demonstrate technology "is worth a thousand slide decks. The 'show me' effect is real."
Startup companies "need to know when to say no and when you're at full capacity," Ponting said. "You can't be everything to everyone."
Pointing identified several "hot development areas" in polymer technology. These included sustainable materials, where he said that government legislation and corporate funding are helping some ideas become reality. "Now we're seeing some fire with the smoke," Ponting added.
Clean energy technologies, artificial intelligence and improved domestic supply chains and manufacturing also are drawing interest, Ponting said.
"COVID showed how dependent we were on global infrastructure," he added. "Reshoring programs now are creating investment opportunities."